Archive for the ‘Economics’ Category

June 15th, 2023 - 9:06 pm § in Business, Economics

Employers steal more $$$ than criminals

I was surprised to read that in the U.S., workers “have an estimated $50bn-plus stolen from them every year, … surpassing all robberies, burglaries and motor vehicle thefts combined,” the Guardian said on Thursday, June 15, 2023 (read story here). I knew wage theft was a problem, a[...]

June 13th, 2023 - 12:05 am § in Economics, Humor, Misc.

Boomers vs. Millennials

“Old age and treachery will overcome youth and skill every time.” Supposedly that’s an ancient Greek proverb. I don’t know if it is, but if it’s been around that long, there might be something to it. Anyway, there’s a common perception that old people are taking a[...]

June 11th, 2023 - 11:44 pm § in America, Biden, Christianity, Democrats, Donald Trump, Economics, Law and Courts, Politics, Racism, Religion, Republicans

What’s at stake in Trump’s trial

Now that he’s been indicted, Trump is entitled to a presumption of innocence, and a fair trial. Those are bedrock principles of the U.S. legal system. Trump “has a lot at stake” in the case, a New York Times writer says. “He could, in theory, go to prison for years.” Bu[...]

June 6th, 2023 - 12:41 am § in Business, Economics, Misc.

The commercial real estate crisis

The commercial real estate sector is in trouble for two big reasons: High vacancy rates, and falling property values. Nationally, about 18% of America’s office space lacks tenants. There may have been some overbuilding, but this is primarily due to the switch to working from home. The pandemic[...]

June 1st, 2023 - 2:18 am § in Democrats, Donald Trump, Economics, Politics, Republicans

The debt ceiling is a fake crisis

Wall Street never believed the U.S. would default; Congress isn’t that crazy. But somebody could miscalculate. The 2023 debt ceiling crisis will be a squeaker. The House passed the compromise that Speaker McCarthy and President Biden spent weeks negotiating; the Senate still must do so. It pr[...]

May 16th, 2023 - 2:17 pm § in Business, Democrats, Economics, Health, Politics, Republicans

What’s wrong with work requirements?

As part of their debt ceiling demands, Republicans are demanding expanded work requirements for food stamps and Medicaid. On Tuesday, May 16, 2023, GOP House Speaker McCarthy seemed to enlarge that to all safety net programs (read story here). It looks reasonable on its face. But as with many things[...]

May 15th, 2023 - 4:32 pm § in Biden, Economics, Politics, Republicans

If you saw a car barreling at you, would you get out of the way?

A U.S. debt default is no joke. Federal employees and military personnel wouldn’t be paid, Social Security checks would be late, and up to 8 million workers could lose their jobs. But a crisis-weary American public isn’t paying much attention. NBC News describes (here) the recent drumbea[...]

May 10th, 2023 - 8:11 pm § in Biden, Donald Trump, Economics, Law and Courts, Politics, Republicans

The many complex nuances of the debt ceiling fight

The debt ceiling has a long history (read about it here). It’s a gimmick enacted by Congress to restrain its own spending. It’s not a budget, it’s a borrowing limit, and potentially could prevent Treasury from paying expenses previously approved by Congress, as the U.S. has run bud[...]

April 21st, 2023 - 3:43 pm § in Economics, Politics, Republicans

Don’t believe what politicians say about the debt ceiling

If you follow news, which you should, you’ve probably heard about the debt ceiling fight in Congress. Simply described, the federal government spends more than it takes in, and borrows the difference. But Congress, beginning in 1939, has capped the amount the Treasury can borrow, although it [...]

April 21st, 2023 - 12:32 am § in Economics

Wages haven’t gone up enough

First, let’s get a couple of things straight. Workers aren’t causing inflation; real wages are falling, and corporate profits are fatter. In Britain, Treasury officials claimed “there was an inflationary risk from workers expecting wages to keep up with price rises,” and Bank[...]